Surviving During Inflation
On today’s show we’re taking a deeper look at inflation. Inflation is in the news these days and with good reason.
This week we’re taking a deeper look at inflation over the course of several shows. On today’s show we’re going to talk about the very first impact, the wiping out of purchasing power for those on fixed income.
So what happens when inflation gets out of control? People on main street suffer the most. There are three impacts of inflation.
1) It has the effect of wiping out purchasing power for those on fixed incomes
2) It has the effect of wiping out savings
3) It has the effect of wiping out debt with fixed interest rates.
In an inflationary environment the underground economy flourishes. There are numerous examples of this.